- Bitcoin Cash is a fork of Bitcoin and it was created as a spin-off of Bitcoin in 2017.
- Bitcoin Cash was further divided into two cryptocurrencies in November 2018, which are Bitcoin Cash and Bitcoin SV.
Bitcoin Cash is an electronic form of peer-to-peer “cash.” As a cryptocurrency that was hard-forked from the original Bitcoin blockchain. The service gives consumers and merchants access to low-cost transactions and confirmations of those transactions rapidly.
The Current Market Price of Bitcoin Cash is $243.38 and this token’s market valuation is $4.757 billion.
Bitcoin Cash Coin Details
BCH coin’s market cap increased by 0.12% at the press time. The volume of this token increased by 18.15% in the last 24 hours. The ratio of tokens is unequal. The $157.28 million value of Bitcoin Cash Coin was traded the previous day. Bitcoin Cash is now ranked 18th among 8,824 active cryptocurrencies in the world by market valuation. The liquidity of the cryptocurrency Bitcoin Cash is 3.27%.
The current market supply of Bitcoin Cash Coins is currently 19.546 million. The maximum supply of Bitcoin Cash is $21 million in the market.
Daily Technical Indicators for the Bitcoin Cash
The 100-day Simple Moving Average in Bitcoin Cash shows buying activity at the $220.13 price level. According to its 100-day Exponential Moving Average, Bitcoin Cash should be bought at $218.45.
The 200-day SMA offers to buy Bitcoin Cash at the $189.17 market price. At $198.64, the 200-day EMA suggests a buying trend. At 55.58, the RSI (14) line indicates neutrality.
Technical Analysis of BCH
Bitcoin Cash is down by 1.36% in the current session and it is erratic because the coin is traded daily. The coin’s value has decreased by 56% overall. On 20 December 2017, Bitcoin Cash marked an all-time high which was $4300.04. The coin fluctuates between a support and a resistance level over the course of a day. Since it is not close to any level of support or resistance, the likelihood of a breakout is reduced.
The coin recorded 17 out of 30 green days over the previous 30 days, with a percentage of about 57% green days. The coin’s price fluctuation over the previous 30 days was 5.43%. In the last 7 days, the Bitcoin Cash was down by 7.38%.
Price Prediction for November
The high price for the November month will be around $258.22. Bitcoin Cash’s low for November will be $213.64.
Live Chart of BCH
Conclusion
According to the analysis made by experts, Bitcoin Cash might reach $246.66 by 05 November 2023. It would be equivalent to a rise in value by 0.62%, which is sober for any coin.
Technical Levels
- Support level- $194.55 and $155.09
- Resistance level- $259.39 and $284.77
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.